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Calculate inventory turnover and days in inventory

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Reference no: EM132909305

Question - This information is available for Grant's Photo Corporation for 2016 and 2017.

 

2016

2017

Beginning inventory

$200,000

$300,000

Ending inventory

300,000

380,000

Cost of goods sold

1,200,000

1,368,000

Sales

1,600,000

1,900,000

Instructions - Calculate inventory turnover, days in inventory, and gross profit rate for Grant's Photo Corporation for 2016 and 2017. Comment on any trends.

Reference no: EM132909305

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